All Forum Posts by: Ramsin Jacob

@Shawn Ward So you just cut them a check at the end of the flip? Do you fill out anything like a W-9 for you to record on the taxes? Im doing a flip right now with a silent investor. Property is under my LLC. We agreed he will received principal + % of profit in return after the flip. I was thinking to simply cut him a check and as normal he could claim as income on his own taxes. My CPA is telling me I should open a new LLC with the investor and then we all file K-1 docs. Not sure what to do.

@Michael Plaks So I could just have the investor fill out a W-9, write him a check with his original investment and whatever profit we agreed he’ll received? Then he can claim it as his income and file taxes on his own? My CPA is saying I should open a whole new LLC with the investor as a memeber and then we all file a K-1. Have you heard of this way? Thanks.

Off-Market Multi-Unit San Francisco

Location: Fulton at 7th Ave

5 Units Total

Sq Ft: 4750

1 - Residential ground floor currently occupied

1 - Retail ground floor, currently occupied

3 - Residential Units above on 2nd floor

--- 1) 2/2 - 750 SF - Large Backyard

--- 2) 3/2 - 950 SF - Deck

--- 3) 3/2 - 1,300 SF - Use of Backyard

*I am a Licensed Realtor @ EXP & I am working DIRECTLY with the sellers on this property.No Daisy Chain business here.*

Price: $2.9m

Great location across from GG Park

Units have decks/office/backyard

Very low expense property

Required work: Renovate 3 vacant units and expand into attic/rear of ground floor retail

Partial foundation

Interior/Exterior renovation (basic aesthetic work)

Gross Income after renovations: $240,000

If interested, contact me directly via E-mail, I will only respond to buyers with POF:

E-mail: [email protected]

Thank you.

Looking for a legit contractor to work on my next property that I will be closing escrow on in couple of weeks.  

Thanks. 

Hello BP community, 

Just curious if anyone has any experience with https://lendingxpress.com/ ?

If so, would be great to hear your story.  Hopefully it is all good stories.  

Thank you.

Hello,

I have this pocket listing, off-market fixer available. 

If you have any interest, please contact me via e-mail and I will share details. 

Thank you. 

@Caleb Heimsoth @Graham Andrew Myself switched from Keller Willams to eXp. People may think the thought of a marketing scheme, but its nothing like that. What they are preaching are the real benefits you receive for hanging your license with their broker. As I saw someone mentioned previously: 80/20 Split - $16k annual cap - investment perks - stock options - virtual campus - low fees - connected with everyone under the sun at eXp.

@Anita Ahuja Not just on loopnet :) Lets connect Ms. Ahuja. Looking forward.

Thanks everyone for the input.  Yes, disclosures are key.  I was kind of thrown off with the level of concern coming from the lawyer.  So that is why I took to the message boards just to re-confirm from other who are actually in this business, that there isn't anything wrong.  I just sold a house to two investors, one has a license and know of many investors with licenses here, so that is why I was thrown off.  Thanks everyone.  If any more words of wisdom, please do add.  Thanks. 

Would love to.

Originally posted by @Sean Richway:

TRUE NO MONEY DOWN PROGRAM!